Open the filing on EDGARROBERT HALF REPORTS FIRST-QUARTER FINANCIAL RESULTS
MENLO PARK, Calif., April 23, 2026 - Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the first quarter ended March 31, 2026.
For the three months ended March 31, 2026, net income was $14 million, or $0.14 per share, on revenues of $1.300 billion. For the three months ended March 31, 2025, net income was $17 million, or $0.17 per share, on revenues of $1.352 billion.
“For the first quarter of 2026, global enterprise revenues were $1.3 billion, down 4 percent from last year’s first quarter on a reported basis and down 6 percent on an adjusted basis,” said M. Keith Waddell, president and chief executive officer of Robert Half. “We are very pleased that talent solutions delivered a second consecutive quarter of positive sequential growth on a same-day constant currency basis, with revenue trends strengthening as the quarter progressed and into early April.
“Overall, we believe market conditions are becoming increasingly conducive to our business, and our unique combination of award-winning high-tech capabilities and high-touch expertise positions us well to deliver meaningful value for clients navigating a dynamic business environment.
“Our employees’ continued dedication has earned Robert Half recent recognition as one of America’s Most Innovative Companies by Fortune and one of the Fortune 100 Best Companies to Work For®. And just this week, we were named by Forbes as one of America’s Best Employers for Company Culture,” Waddell concluded.
Robert Half management will host a conference call at 5 p.m. ET. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number is 800-330-6710 (+1-213-279-1505 outside the United States and Canada). The confirmation code to access the call is 1445294.
A recorded replay of the call will be available for audio replay beginning April 23 and will remain accessible for 12 months at https://webcasts.com/RobertHalfQ12026. The conference call also will be archived in audio format on the Company’s website at roberthalf.com.
Robert Half is the world’s first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the last 12 months, Robert Half has been recognized as one of America’s Most Innovative Companies by Fortune and, with Protiviti, has been named as a Fortune® Most Admired Company™ and one of the 100 Best Companies to Work For.
Forward-looking statements notice
Certain information contained in Management’s Discussion and Analysis and in other parts of this report may be deemed forward-looking statements regarding events and financial trends that may affect the future operating results or financial positions of Robert Half Inc. (the “Company”). Forward-looking statements are not guarantees or promises that goals or targets will be met. These statements may be identified by words such as “anticipate,” “potential,” “estimate,” “forecast,” “target,” “project,” “plan,” “intend,” “believe,” “expect,” “should,” “could,” “would,” “may,” “might,” “will,” or variations or negatives thereof or by similar or comparable words or phrases. In addition, historical, current and forward-looking information about the Company’s corporate responsibility and compliance programs, including targets or goals, may not be considered material for the Securities and Exchange Commission (“SEC”) or other mandatory reporting purposes and may be based on standards for measuring progress that are still developing; on internal controls, diligence or processes that are evolving; on representations reviewed or provided by third parties; and on assumptions that are subject to change in the future. Forward-looking statements are estimates only and are based on management’s current expectations; currently available information; and current strategy, plans or forecasts, and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict, often beyond the Company’s control and are inherently uncertain. Forward-looking statements are subject to risks and uncertainties that could cause actual results and outcomes, or the timing of these results or outcomes, to differ materially from those expressed or implied in the statements.
These risks and uncertainties include, but are not limited to, the following: changes to or new interpretations of United States of America (“U.S.”) or international tax regulations; the global financial and economic situation; changes in levels of unemployment and other economic conditions in the U.S. or foreign countries where the Company does business, or in particular regions or industries; reduction in the supply of candidates for contract employment or the Company’s ability to attract candidates; the development, proliferation and adoption of artificial intelligence (“AI”) by the Company and the third parties it serves; the entry of new competitors into the marketplace or expansion by existing competitors; the ability of the Company to maintain existing client relationships and attract new clients in the context of changing economic or competitive conditions; the impact of competitive pressures, including any change in the demand for the Company’s services, or the Company’s ability to maintain its margins; the possibility of the Company incurring liability for its activities, including the activities of its engagement professionals, or for events impacting its engagement professionals on clients’ premises; the possibility that adverse publicity could impact the Company’s ability to attract and retain clients and candidates; the success of the Company in attracting, training and retaining qualified management personnel and other staff employees; the Company’s ability to comply with governmental regulations affecting personnel services businesses in particular or employer/employee relationships in general; whether there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; the Company’s reliance on short-term contracts for a significant percentage of its business; litigation relating to prior or current transactions or activities, including litigation that may be disclosed from time to time in the Company’s SEC filings; the impact of extreme weather conditions on the Company and its candidates and clients; the ability of the Company to manage its international operations and comply with foreign laws and regulations; the impact of fluctuations in foreign currency exchange rates; the possibility that the additional costs the Company will incur as a result of health care or other reform legislation may adversely affect the Company’s profit margins or the demand for the Company’s services; the possibility that the Company’s computer and communications hardware and software systems could be damaged or their service interrupted, or that the Company could experience a cybersecurity breach; and the possibility that the Company may fail to maintain adequate financial and management controls, and as a result suffer errors in its financial reporting.
Additionally, with respect to Protiviti, other risks and uncertainties include the fact that future success will depend on its ability to retain employees and attract clients; there can be no assurance that there will be ongoing demand for broad-based consulting, regulatory compliance, technology services, public sector or other high-demand advisory services; failure to produce projected revenues could adversely affect financial results; and there is the possibility of involvement in litigation relating to prior or current transactions or activities.
A summary of additional risks and uncertainties can be found in the Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s other filings with the U.S. Securities and Exchange Commission.
Because long-term contracts are not a significant part of the Company’s business, future results cannot be reliably predicted by considering past trends or extrapolating past results. Except as required by law, the Company undertakes no obligation to update information in this report, whether as a result of new information, future events or otherwise, and notwithstanding any historical practice of doing so.
A copy of this release is available at www.roberthalf.com/investor-center.
ATTACHED:
Summary of Operations Supplemental Financial Information Non-GAAP Financial Measures
SUMMARY OF OPERATIONS
(in thousands, except per share amounts)
| Three Months Ended March 31, |
|---|
| 2026 | 2025 |
|---|
| (Unaudited) |
|---|
| Service revenues | $1,300,179 | | $1,351,907 | |
| Costs of services | 820,270 | | 852,862 | |
| Gross margin | | 479,909 | | 499,045 |
| Selling, general and administrative expenses | | 442,998 | | 460,163 |
| Operating income | | 36,911 | | 38,882 |
| Loss from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses) | | 8,227 | | 20,171 |
| Interest income, net | | (2,758) | | (3,572) |
| Income before income taxes | 31,442 | | 22,283 | |
| Provision for income taxes | 17,652 | | 4,933 | |
| Net income | $13,790 | | $17,350 | |
| Diluted net income per share | $0.14 | | $0.17 | |
| Weighted average shares: | | |
| Basic | 99,622 | | 100,666 | |
| Diluted | 99,899 | | 101,015 | |
SUPPLEMENTAL FINANCIAL INFORMATION
| Three Months Ended March 31, |
|---|
| 2026 | 2025 |
|---|
| (Unaudited) |
|---|
| SERVICE REVENUES INFORMATION | | |
| Contract talent solutions | | |
| Finance and accounting | $538,753 | | $562,933 | |
| Administrative and customer support | 149,335 | | 165,627 | |
| Technology | 153,758 | | 152,542 | |
| Elimination of intersegment revenues (1) | (116,830) | | (117,897) | |
| Total contract talent solutions | 725,016 | | 763,205 | |
| Permanent placement talent solutions | 109,004 | | 112,091 | |
| Protiviti | 466,159 | | 476,611 | |
| Total service revenues | $1,300,179 | | $1,351,907 | |
(1) Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to the Company’s Protiviti segment in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line.
| March 31, |
|---|
| 2026 | 2025 |
|---|
| (Unaudited) |
|---|
| SELECTED BALANCE SHEET INFORMATION: | | |
| Cash and cash equivalents | $278,387 | | $342,473 | |
| Accounts receivable, net | $776,361 | | $786,560 | |
| Total assets | $2,703,702 | | $2,696,953 | |
| Total current liabilities | $1,268,887 | | $1,190,356 | |
| Total stockholders’ equity | $1,231,231 | | $1,313,222 | |
| Three Months Ended March 31, | |
|---|
| 2026 | 2025 |
|---|
| (Unaudited) | |
|---|
| SELECTED CASH FLOW INFORMATION: | | |
| Depreciation | $12,285 | | $13,006 | |
| Capitalized cloud computing implementation costs | $8,289 | | $6,160 | |
| Capital expenditures | $8,495 | | $12,394 | |
| Open market repurchases of common stock (shares) | | - | 668 | |
The financial results of Robert Half Inc. (the “Company”) are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the SEC. To help readers understand the Company’s financial performance, the Company supplements its GAAP financial results with the following non-GAAP measures: adjusted gross margin; adjusted selling, general and administrative expenses; adjusted operating income; and adjusted revenue growth rates.
The following measures: adjusted gross margin, adjusted selling, general and administrative expenses and adjusted operating income, include gains and losses on investments held to fund the Company’s obligations under employee deferred compensation plans. The Company provides these measures because they are used by management to review its operational results.
Adjusted revenue growth rates represent year-over-year revenue growth rates after removing the impacts on reported revenues from the changes in the number of billing days and foreign currency exchange rates. The Company provides this data because it focuses on the Company’s revenue growth rates attributable to operating activities and aids in evaluating revenue trends over time. The impacts from the changes in billing days and foreign currency exchange rates are calculated as follows:
- Billing days impact is calculated by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon inputs from all countries and all functional specializations and segments.
- Foreign currency impact is calculated by retranslating current-period international revenues, using foreign currency exchange rates from the prior year’s comparable period.
The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies may calculate such financial results differently. The Company’s non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided on the following pages.
ADJUSTED GROSS MARGIN (UNAUDITED):
| Three Months Ended March 31, | Relationships |
|---|
| As Reported | As Adjusted | As Reported | As Adjusted |
|---|
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
|---|
| Gross Margin | | | | | | | | |
| Contract talent solutions | $281,753 | | $296,933 | | $281,753 | | $296,933 | | 38.9% | | 38.9% | | 38.9% | | 38.9% | |
| Permanent placement talent solutions | 108,726 | | 111,861 | | 108,726 | | 111,861 | | 99.7% | | 99.8% | | 99.7% | | 99.8% | |
| Total talent solutions | 390,479 | | 408,794 | | 390,479 | | 408,794 | | 46.8% | | 46.7% | | 46.8% | | 46.7% | |
| Protiviti | 89,430 | | 90,251 | | 87,426 | | 86,212 | | 19.2% | | 18.9% | | 18.8% | | 18.1% | |
| Total | $479,909 | | $499,045 | | $477,905 | | $495,006 | | 36.9% | | 36.9% | | 36.8% | | 36.6% | |
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended March 31, 2026 and 2025:
| Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 |
|---|
| Contract talent solutions | Permanent placement talent solutions | Total talent solutions | Protiviti | Total | Contract talent solutions | Permanent placement talent solutions | Total talent solutions | Protiviti | Total |
|---|
| $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue |
|---|
| Gross Margin | | | | | | | | | | | | | | | | | | | | |
| As Reported | $281,753 | 38.9% | $108,726 | 99.7% | $390,479 | 46.8% | $89,430 | 19.2% | $479,909 | 36.9% | $296,933 | 38.9% | $111,861 | 99.8% | $408,794 | 46.7% | $90,251 | 18.9% | $499,045 | 36.9% |
| Adjustments (1) | - | - | - | - | - | - | (2,004) | (0.4%) | (2,004) | (0.1%) | - | - | - | - | - | - | (4,039) | (0.8%) | (4,039) | (0.3%) |
| As Adjusted | $281,753 | 38.9% | $108,726 | 99.7% | $390,479 | 46.8% | $87,426 | 18.8% | $477,905 | 36.8% | $296,933 | 38.9% | $111,861 | 99.8% | $408,794 | 46.7% | $86,212 | 18.1% | $495,006 | 36.6% |
(1)Changes in the Company’s employee deferred compensation plan obligations related to Protiviti operations are included in costs of services, while the related investment losses are presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment losses from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.
ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED):
| Three Months Ended March 31, | Relationships |
|---|
| As Reported | As Adjusted | As Reported | As Adjusted |
|---|
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
|---|
| Selling, General and Administrative Expenses | | | | | | | |
| Contract talent solutions | $267,081 | | $276,212 | | $272,440 | | $290,242 | | 36.8% | | 36.2% | | 37.6% | | 38.0% | |
| Permanent placement talent solutions | 101,806 | | 106,135 | | 102,670 | | 108,237 | | 93.4% | | 94.7% | | 94.2% | | 96.6% | |
| Total talent solutions | 368,887 | | 382,347 | | 375,110 | | 398,479 | | 44.2% | | 43.7% | | 45.0% | | 45.5% | |
| Protiviti | 74,111 | | 77,816 | | 74,111 | | 77,816 | | 15.9% | | 16.3% | | 15.9% | | 16.3% | |
| Total | $442,998 | | $460,163 | | $449,221 | | $476,295 | | 34.1% | | 34.0% | | 34.6% | | 35.2% | |
The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the three months ended March 31, 2026 and 2025:
| Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 |
|---|
| Contract talent solutions | Permanent placement talent solutions | Total talent solutions | Protiviti | Total | Contract talent solutions | Permanent placement talent solutions | Total talent solutions | Protiviti | Total |
|---|
| $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue |
|---|
| Selling, General and Administrative Expenses | | | | | | | | | | | | | | | | | | | |
| As Reported | $267,081 | 36.8% | $101,806 | 93.4% | $368,887 | 44.2% | $74,111 | 15.9% | $442,998 | 34.1% | $276,212 | 36.2% | $106,135 | 94.7% | $382,347 | 43.7% | $77,816 | 16.3% | $460,163 | 34.0% |
| Adjustments (1) | 5,359 | 0.8% | 864 | 0.8% | 6,223 | 0.8% | - | - | 6,223 | 0.5% | 14,030 | 1.8% | 2,102 | 1.9% | 16,132 | 1.8% | - | - | 16,132 | 1.2% |
| As Adjusted | $272,440 | 37.6% | $102,670 | 94.2% | $375,110 | 45.0% | $74,111 | 15.9% | $449,221 | 34.6% | $290,242 | 38.0% | $108,237 | 96.6% | $398,479 | 45.5% | $77,816 | 16.3% | $476,295 | 35.2% |
(1)Changes in the Company’s employee deferred compensation plan obligations related to talent solutions operations are included in selling, general and administrative expenses, while the related investment losses are presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment losses from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.
ADJUSTED OPERATING INCOME (UNAUDITED):
| Three Months Ended March 31, | Relationships |
|---|
| As Reported | As Adjusted | As Reported | As Adjusted |
|---|
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
|---|
| Operating Income | | | | | | | | |
| Contract talent solutions | $14,672 | | $20,721 | | $9,313 | | $6,691 | | 2.0% | | 2.7% | | 1.3% | | 0.9% | |
| Permanent placement talent solutions | 6,920 | | 5,726 | | 6,056 | | 3,624 | | 6.3% | | 5.1% | | 5.6% | | 3.2% | |
| Total talent solutions | 21,592 | | 26,447 | | 15,369 | | 10,315 | | 2.6% | | 3.0% | | 1.8% | | 1.2% | |
| Protiviti | 15,319 | | 12,435 | | 13,315 | | 8,396 | | 3.3% | | 2.6% | | 2.9% | | 1.8% | |
| Total | $36,911 | | $38,882 | | $28,684 | | $18,711 | | 2.8% | | 2.9% | | 2.2% | | 1.4% | |
The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating income for the three months ended March 31, 2026 and 2025:
| Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 |
|---|
| Contract talent solutions | Permanent placement talent solutions | Total talent solutions | Protiviti | Total | Contract talent solutions | Permanent placement talent solutions | Total talent solutions | Protiviti | Total |
|---|
| $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue | $ | % of Revenue |
|---|
| Operating Income | | | | | | | | | | | | | | | | | | | |
| As Reported | $14,672 | 2.0% | $6,920 | 6.3% | $21,592 | 2.6% | $15,319 | 3.3% | $36,911 | 2.8% | $20,721 | 2.7% | $5,726 | 5.1% | $26,447 | 3.0% | $12,435 | 2.6% | $38,882 | 2.9% |
| Adjustments (1) | (5,359) | (0.7%) | (864) | (0.7%) | (6,223) | (0.8%) | (2,004) | (0.4%) | (8,227) | (0.6%) | (14,030) | (1.8%) | (2,102) | (1.9%) | (16,132) | (1.8%) | (4,039) | (0.8%) | (20,171) | (1.5%) |
| As Adjusted | $9,313 | 1.3% | $6,056 | 5.6% | $15,369 | 1.8% | $13,315 | 2.9% | $28,684 | 2.2% | $6,691 | 0.9% | $3,624 | 3.2% | $10,315 | 1.2% | $8,396 | 1.8% | $18,711 | 1.4% |
(1)Changes in the Company’s employee deferred compensation plan obligations are included in operating income. The non-GAAP financial adjustments shown in the table above are to reclassify investment losses from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.
REVENUE GROWTH RATES (%) (UNAUDITED):
| Year-Over-Year Growth Rates (As Reported) | Non-GAAP Year-Over-Year Growth Rates (As Adjusted) |
|---|
| 2024 | 2025 | 2026 | 2024 | 2025 | 2026 |
|---|
| Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
|---|
| Global | | | | | | | | | | | | |
| Finance and accounting | -9.5 | -12.3 | -10.8 | -9.9 | -6.9 | -4.3 | -9.8 | -10.0 | -10.8 | -10.7 | -7.8 | -6.3 |
| Administrative and customer support | -8.8 | -17.2 | -13.0 | -11.1 | -11.4 | -9.8 | -9.4 | -15.2 | -13.3 | -12.1 | -12.5 | -11.8 |
| Technology | -3.5 | -3.4 | 0.3 | -1.5 | -1.0 | 0.8 | -4.1 | -1.3 | 0.4 | -1.9 | -1.2 | -0.3 |
| Elimination of intersegment revenues (1) | 18.9 | 4.5 | 2.9 | 1.1 | 3.0 | -0.9 | 17.8 | 6.8 | 2.5 | 0.2 | 2.2 | -2.8 |
| Total contract talent solutions | -11.5 | -14.0 | -11.1 | -10.1 | -8.2 | -5.0 | -11.8 | -11.8 | -11.1 | -10.9 | -9.0 | -6.8 |
| Permanent placement talent solutions | -11.1 | -10.2 | -12.5 | -10.7 | -5.1 | -2.8 | -11.4 | -7.8 | -12.6 | -11.4 | -5.9 | -4.7 |
| Total talent solutions | -11.4 | -13.5 | -11.3 | -10.2 | -7.9 | -4.7 | -11.7 | -11.3 | -11.3 | -11.0 | -8.6 | -6.6 |
| Protiviti | 5.3 | 2.7 | 1.8 | -2.6 | -2.0 | -2.2 | 4.5 | 4.7 | 1.5 | -3.4 | -2.8 | -3.8 |
| Total | -6.1 | -8.4 | -7.0 | -7.5 | -5.8 | -3.8 | -6.6 | -6.2 | -7.1 | -8.3 | -6.6 | -5.6 |
| United States | | | | | | | | | | | | |
| Contract talent solutions | -10.3 | -11.8 | -10.7 | -10.3 | -9.5 | -7.6 | -11.2 | -10.7 | -10.7 | -10.4 | -9.2 | -7.5 |
| Permanent placement talent solutions | -9.6 | -8.5 | -13.2 | -11.3 | -5.8 | -5.9 | -10.4 | -7.3 | -13.2 | -11.4 | -5.5 | -5.7 |
| Total talent solutions | -10.2 | -11.4 | -11.0 | -10.4 | -9.0 | -7.4 | -11.1 | -10.3 | -11.0 | -10.5 | -8.8 | -7.3 |
| Protiviti | 6.6 | 2.3 | -0.7 | -5.5 | -5.9 | -6.4 | 5.6 | 3.6 | -0.7 | -5.6 | -5.6 | -6.3 |
| Total | -4.7 | -6.9 | -7.4 | -8.6 | -7.9 | -7.1 | -5.7 | -5.7 | -7.4 | -8.7 | -7.6 | -6.9 |
| International | | | | | | | | | | | | |
| Contract talent solutions | -15.2 | -20.7 | -12.5 | -9.7 | -4.0 | 4.3 | -13.9 | -16.2 | -12.9 | -12.4 | -8.7 | -3.4 |
| Permanent placement talent solutions | -14.7 | -14.5 | -10.6 | -9.0 | -3.5 | 5.7 | -13.7 | -10.1 | -11.2 | -11.2 | -7.0 | -0.9 |
| Total talent solutions | -15.1 | -19.8 | -12.2 | -9.6 | -3.9 | 4.5 | -13.9 | -15.3 | -12.6 | -12.2 | -8.4 | -3.0 |
| Protiviti | 0.2 | 4.4 | 13.1 | 11.1 | 14.7 | 16.0 | -0.4 | 7.9 | 10.7 | 7.5 | 9.1 | 8.1 |
| Total | -10.9 | -13.6 | -5.3 | -3.8 | 1.8 | 8.1 | -10.2 | -9.4 | -6.3 | -6.7 | -3.0 | 0.4 |
(1)Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to Protiviti in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line item.
The non-GAAP financial measures included in the table above adjust for the following items:
Billing Days. The “As Reported” revenue growth rates are based upon reported revenues. Management calculates the billing day impact by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all functional specializations and segments.
Foreign Currency Translation. The “As Reported” revenue growth rates are based upon reported revenues, which include the impact of changes in foreign currency exchange rates. The foreign currency impact is calculated by retranslating current-period international revenues, using foreign currency exchange rates from the prior year’s comparable period.
The term “As Adjusted” means that the impact of different billing days and constant currency fluctuations are removed from the revenue growth rate calculation. A reconciliation of the non-GAAP year-over-year revenue growth rates to the “As Reported” year-over-year revenue growth rates is included herein, on Pages 10-12.
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|
| Year-Over-Year Revenue Growth - GLOBAL |
| Finance and accounting | | | | | | |
| As Reported | -9.5 | -12.3 | -10.8 | -9.9 | -6.9 | -4.3 |
| Billing Days Impact | -0.8 | 1.3 | 0.4 | -0.2 | 0.3 | 0.0 |
| Currency Impact | 0.5 | 1.0 | -0.4 | -0.6 | -1.2 | -2.0 |
| As Adjusted | -9.8 | -10.0 | -10.8 | -10.7 | -7.8 | -6.3 |
| Administrative and customer support | | | | | | |
| As Reported | -8.8 | -17.2 | -13.0 | -11.1 | -11.4 | -9.8 |
| Billing Days Impact | -0.8 | 1.3 | 0.4 | 0.0 | 0.3 | 0.0 |
| Currency Impact | 0.2 | 0.7 | -0.7 | -1.0 | -1.4 | -2.0 |
| As Adjusted | -9.4 | -15.2 | -13.3 | -12.1 | -12.5 | -11.8 |
| Technology | | | | | | |
| As Reported | -3.5 | -3.4 | 0.3 | -1.5 | -1.0 | 0.8 |
| Billing Days Impact | -0.7 | 1.4 | 0.5 | -0.1 | 0.3 | 0.0 |
| Currency Impact | 0.1 | 0.7 | -0.4 | -0.3 | -0.5 | -1.1 |
| As Adjusted | -4.1 | -1.3 | 0.4 | -1.9 | -1.2 | -0.3 |
| Elimination of intersegment revenues | | | | | | |
| As Reported | 18.9 | 4.5 | 2.9 | 1.1 | 3.0 | -0.9 |
| Billing Days Impact | -1.0 | 1.6 | 0.5 | -0.1 | 0.4 | 0.0 |
| Currency Impact | -0.1 | 0.7 | -0.9 | -0.8 | -1.2 | -1.9 |
| As Adjusted | 17.8 | 6.8 | 2.5 | 0.2 | 2.2 | -2.8 |
| Total contract talent solutions | | | | | | |
| As Reported | -11.5 | -14.0 | -11.1 | -10.1 | -8.2 | -5.0 |
| Billing Days Impact | -0.7 | 1.3 | 0.4 | -0.2 | 0.3 | 0.0 |
| Currency Impact | 0.4 | 0.9 | -0.4 | -0.6 | -1.1 | -1.8 |
| As Adjusted | -11.8 | -11.8 | -11.1 | -10.9 | -9.0 | -6.8 |
| Permanent placement talent solutions | | | | | | |
| As Reported | -11.1 | -10.2 | -12.5 | -10.7 | -5.1 | -2.8 |
| Billing Days Impact | -0.7 | 1.3 | 0.5 | -0.1 | 0.3 | 0.0 |
| Currency Impact | 0.4 | 1.1 | -0.6 | -0.6 | -1.1 | -1.9 |
| As Adjusted | -11.4 | -7.8 | -12.6 | -11.4 | -5.9 | -4.7 |
| Total talent solutions | | | | | | |
| As Reported | -11.4 | -13.5 | -11.3 | -10.2 | -7.9 | -4.7 |
| Billing Days Impact | -0.7 | 1.2 | 0.4 | -0.2 | 0.4 | 0.0 |
| Currency Impact | 0.4 | 1.0 | -0.4 | -0.6 | -1.1 | -1.9 |
| As Adjusted | -11.7 | -11.3 | -11.3 | -11.0 | -8.6 | -6.6 |
| Protiviti | | | | | | |
| As Reported | 5.3 | 2.7 | 1.8 | -2.6 | -2.0 | -2.2 |
| Billing Days Impact | -0.8 | 1.5 | 0.4 | -0.2 | 0.3 | 0.0 |
| Currency Impact | 0.0 | 0.5 | -0.7 | -0.6 | -1.1 | -1.6 |
| As Adjusted | 4.5 | 4.7 | 1.5 | -3.4 | -2.8 | -3.8 |
| Total | | | | | | |
| As Reported | -6.1 | -8.4 | -7.0 | -7.5 | -5.8 | -3.8 |
| Billing Days Impact | -0.8 | 1.4 | 0.4 | -0.2 | 0.3 | 0.0 |
| Currency Impact | 0.3 | 0.8 | -0.5 | -0.6 | -1.1 | -1.8 |
| As Adjusted | -6.6 | -6.2 | -7.1 | -8.3 | -6.6 | -5.6 |
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|
| Year-Over-Year Revenue Growth - UNITED STATES |
| Contract talent solutions | | |
| As Reported | -10.3 | -11.8 | -10.7 | -10.3 | -9.5 | -7.6 |
| Billing Days Impact | -0.9 | 1.1 | 0.0 | -0.1 | 0.3 | 0.1 |
| Currency Impact | ― | ― | ― | ― | ― | ― |
| As Adjusted | -11.2 | -10.7 | -10.7 | -10.4 | -9.2 | -7.5 |
| Permanent placement talent solutions | | | | | | |
| As Reported | -9.6 | -8.5 | -13.2 | -11.3 | -5.8 | -5.9 |
| Billing Days Impact | -0.8 | 1.2 | 0.0 | -0.1 | 0.3 | 0.2 |
| Currency Impact | ― | ― | ― | ― | ― | ― |
| As Adjusted | -10.4 | -7.3 | -13.2 | -11.4 | -5.5 | -5.7 |
| Total talent solutions | | | | | | |
| As Reported | -10.2 | -11.4 | -11.0 | -10.4 | -9.0 | -7.4 |
| Billing Days Impact | -0.9 | 1.1 | 0.0 | -0.1 | 0.2 | 0.1 |
| Currency Impact | ― | ― | ― | ― | ― | ― |
| As Adjusted | -11.1 | -10.3 | -11.0 | -10.5 | -8.8 | -7.3 |
| Protiviti | | | | | | |
| As Reported | 6.6 | 2.3 | -0.7 | -5.5 | -5.9 | -6.4 |
| Billing Days Impact | -1.0 | 1.3 | 0.0 | -0.1 | 0.3 | 0.1 |
| Currency Impact | ― | ― | ― | ― | ― | ― |
| As Adjusted | 5.6 | 3.6 | -0.7 | -5.6 | -5.6 | -6.3 |
| Total | | | | | | |
| As Reported | -4.7 | -6.9 | -7.4 | -8.6 | -7.9 | -7.1 |
| Billing Days Impact | -1.0 | 1.2 | 0.0 | -0.1 | 0.3 | 0.2 |
| Currency Impact | ― | ― | ― | ― | ― | ― |
| As Adjusted | -5.7 | -5.7 | -7.4 | -8.7 | -7.6 | -6.9 |
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|
| Year-Over-Year Revenue Growth - INTERNATIONAL |
| Contract talent solutions | | |
| As Reported | -15.2 | -20.7 | -12.5 | -9.7 | -4.0 | 4.3 |
| Billing Days Impact | -0.4 | 0.6 | 1.4 | 0.0 | 0.1 | 0.6 |
| Currency Impact | 1.7 | 3.9 | -1.8 | -2.7 | -4.8 | -8.3 |
| As Adjusted | -13.9 | -16.2 | -12.9 | -12.4 | -8.7 | -3.4 |
| Permanent placement talent solutions | | | | | | |
| As Reported | -14.7 | -14.5 | -10.6 | -9.0 | -3.5 | 5.7 |
| Billing Days Impact | -0.4 | 0.6 | 1.4 | 0.0 | 0.2 | 0.6 |
| Currency Impact | 1.4 | 3.8 | -2.0 | -2.2 | -3.7 | -7.2 |
| As Adjusted | -13.7 | -10.1 | -11.2 | -11.2 | -7.0 | -0.9 |
| Total talent solutions | | | | | | |
| As Reported | -15.1 | -19.8 | -12.2 | -9.6 | -3.9 | 4.5 |
| Billing Days Impact | -0.5 | 0.6 | 1.4 | 0.0 | 0.1 | 0.7 |
| Currency Impact | 1.7 | 3.9 | -1.8 | -2.6 | -4.6 | -8.2 |
| As Adjusted | -13.9 | -15.3 | -12.6 | -12.2 | -8.4 | -3.0 |
| Protiviti | | | | | | |
| As Reported | 0.2 | 4.4 | 13.1 | 11.1 | 14.7 | 16.0 |
| Billing Days Impact | -0.4 | 0.7 | 1.7 | 0.0 | 0.1 | 0.7 |
| Currency Impact | -0.2 | 2.8 | -4.1 | -3.6 | -5.7 | -8.6 |
| As Adjusted | -0.4 | 7.9 | 10.7 | 7.5 | 9.1 | 8.1 |
| Total | | | | | | |
| As Reported | -10.9 | -13.6 | -5.3 | -3.8 | 1.8 | 8.1 |
| Billing Days Impact | -0.5 | 0.6 | 1.5 | 0.0 | 0.2 | 0.6 |
| Currency Impact | 1.2 | 3.6 | -2.5 | -2.9 | -5.0 | -8.3 |
| As Adjusted | -10.2 | -9.4 | -6.3 | -6.7 | -3.0 | 0.4 |
Contacts
M. Keith Waddell President and Chief Executive Officer (650) 234-6000